About Federal Bank Car loan in Patna

Federal bank since its incorporation in 1931, has been weaving success stories. It is a leading private sector commercial bank in India and has performed well on all the parameters. It was previously named as Travancore bank. One can trace the history of the bank to pre-independence era. The current name Federal bank limited was given in the year 1947. The bank main head office is situated in the city of Kochi. The entire country has been covered by the bank through more than 1000 branches and ATMs. The bank has been a customer centric institution since inception and has set up a standard for itself. It has provided customers with an experience like never before. Federal bank has expanded its wings to UAE as well. It has an office in Abu Dhabi, which is taking proper care of the diverse needs of the NRI customers. When it comes to raising the bar for others, no one has been able to beat the bank. Federal Experience Center, the first international standard 24X7 banking facility in Kochi, was opened up by the bank. The bank has dominated many award functions and has scooped up many awards. Federal won was successful in winning the IDRBT Banking Technology Excellence Award 2013-14 in four categories. This truly speaks for the bank. It has exceeded the expectations by bringing on the table, products that are world class and effective. It introduced a first of its kind digital loan-Fed-E-Credit, which could be availed by a customer against his/her fixed deposit.

Patna, the capital of Bihar is a major agricultural and trade hub. The city is one of the fastest growing non-metro cities in India and has recently seen the development of several small scale industries. Federal bank has established two branches in the city that are operating very well. People living in Patna can now think of driving their own car on the roads of the city as Federal bank car loan is going to nurture their dreams. They can now drive home their dream with the help of a car loan. Low-interest rates, quicker processing and longer repayment period are some of the features which make the product offered by the bank different from others.

Federal Bank Car loan in Patna at a glance

Check out the essential details of Federal Bank Car loan Patna here.

Particular

Details

Interest rate

9.15% - 9.45%

Loan amount

Will depend on the bank’s norm

Tenure

New cars: 7 years (for salaried)

Pre-owned cars: 5 years

Processing fee

As per the bank’s norm

Pre-payment charge

As per the bank’s norm

Eligibility criteria

The eligibility norms for a car loan have been listed below. Check them out-

Residents individuals and big corporates are eligible to apply for a Federal Bank car loan in Patna

The applicant needs to take home at least ₹ 7,500 after meeting all the EMI commitments. You should note that this also includes the proposed EMI for the car loan he/she will take

Documents required

The list of documents required for a car loan have been given below-

Two photographs of passport size of both the applicant and the co obligant

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